Crypto
ENA Price Holds 25% Weekly Gain as Momentum Cools
Ethena's ENA token is trading near $0.147 after its sharp breakout met resistance near $0.180, retaining a weekly gain of about 25% from its Aug. 21 opening price of $0.11717.
The token reached an intraday high of $0.18023 on Aug. 23 before sellers took control, showing that traders took profits after the fast advance.
Ethena's reported partnership with FalconX to establish a $1 billion secured warehouse lending facility was the main catalyst behind ENA's weekly advance, lifting trading activity sharply following the announcement.